Defense Metals Corp. (TSX:DEFN.V)VANCOUVER, BRITISH COLUMBIA, CANADA, April 14, 2021 /EINPresswire.com/ -- Media alert from Investorideas.com Newswire for Defense Metals Corp. ( TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D). The company was featured in the following article: BYD, DEFENSE METALS, PLUG POWER - CHINA FIRST!
Read this media alert featuring DEFN in full at https://www.investorideas.com/news/2021/mining/04141DEFN-Rare-Earth-Metals.asp
BYD, DEFENSE METALS, PLUG POWER - CHINA FIRST!
Cars are to run on electricity, trucks are to be powered by hydrogen, and in the future, wind turbines, solar panels and hydroelectric power plants will generate the electricity. All well and good, but beware, dear climate activists, wind, solar energy and electromobility require mineral raw materials that also leave an ecological footprint when they are extracted. These raw materials are not produced in our country, but almost 80% in China. Due to the Middle Kingdom's demand and the ongoing trade war, the Western world is threatened by a shortage of resources, which endangers the well-intentioned but poorly prepared energy transition.
China is the world's largest market for electric cars. Domestic demand continues to grow tremendously. Chinese electric carmakers BYD (OTC: BYDDF) , Nio ( NYSE: NIO) , Xpeng ( NYSE: XPEV) and Li Auto all achieved triple-digit growth rates in the electric car segment last year. Now, the government issued a new directive last month, further tightening regulation on the production of rare earth metals. The goal, it said, is to develop and preserve these resources to meet rising domestic demand and protect the strategic resource amid intensifying global competition. Rare earth metals, also known as "industrial gold," are a group of 17 chemical elements that find their applications in medicine, renewable energy, permanent magnets in electric motors, or batteries in cell phones or laptops. The raw materials are also extremely important for the defense industry.
SHARPER TONE BETWEEN CHINA AND THE USA
The trade war that got underway under the Trump administration continues under new President Joe Biden. China set up export controls on rare earth metals to slow the production of US fighter jets. Likewise, a blacklist is to be created, listing primarily defense companies such as Lockheed Martin, Boeing and Raytheon, which are supplying arms to Taiwan. The US alone invested about USD 1.2 trillion in defense last year. To ensure a secure supply chain for rare earth metals outside of China, the US, Japan, Australia, and India want to work together. However, as there are currently few rare earth metal projects ex-China, dependence on the existing supply chain is likely to remain for the next 10 years.
FEW EXISTING ALTERNATIVES
While projects are increasingly being launched in Australia and the US, the number of companies already underway is scarce. One of the most promising projects is being run by Canadian mineral explorer Defense Metals ( TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D), focusing on its 1,708-hectare Wicheeda rare earths project near Prince George in British Columbia. According to company data, mineral resources there are 4.9 million tons at an average grade of 3.02% LREO (light rare earth metals) and inferred mineral resources of 12.1 million tons at an average grade of 2.90% LREO. Within four years, the resources and consequently the value of the deposit have almost doubled. The project offers outstanding infrastructure and stands out with low pilot and drilling costs.
CONSISTENTLY GOOD NEWS FLOW
For weeks, Defense Metals ( TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D) has been shining with consistently good news. In early March, very positive results were reported in hydrometallurgical tests with flotation concentrating in advance of the pilot study with a high impurity precipitation rate with minimal loss of rare earths. The next objective is to complete the hydrometallurgical pilot plant. A drilling program to further upgrade and increase the deposit's size is also scheduled to begin in the third quarter.
Author - STEFAN FEULNER
The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network. He is passionate about analyzing a wide variety of business models and investigating new trends.
About Defense Metals Corp. https://defensemetals.com/
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
For further information, please contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
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